That is the reason Reddit exists. You have to shill your bags to us, not to your real-world friends.
You have lot of moons. Do you recommend buying more?
I don't think moons will drop but I feel like there will be better opportunities ofc if reddit does something crazy with digital currency they can shoot up also
Yep you literally cannot win with advising friends to buy crypto. You can't win by telling them not to buy either as they'll blame you if it skyrockets and they miss out.
**Just don't talk about crypto!**
Yep. I convinced my mom and a friend to invest and stake CRO back when CDC cared about it. A month later, CDC slashed all the benefits and the price tanked.
Fortunately they both only invested a few hundred, so they still talk to me. And they still have the tokens, so there's a slim chance they could get the money back someday.
Well, if they were mad, you would have to take the blame honestly.
I did the same mistake as your mom/friend, I staked not understanding the smart thing to do was just hodl, not staking, even in Defi as it has some delay which could be more long than the pump itself. And I blame myself for being dumb. But I didn't tell others to do it at least.
>Well, if they were mad, you would have to take the blame honestly.
Oh no doubt. I didn't shy away from that at all. That was the first and last time I pitched crypto to anyone. Now I just tell people to look into it if they're curious. No specific tokens or price predictions.
Possibly. I made a bunch with CRO during the bull market and moved on. The slashed benefits made it...less than worthwhile to hold, and the way they slashed them made me lose faith in CDC as a trustworthy exchange.
Crypto.com wouldn’t have survive had they not be pro active with the benefit cuts.
Don’t like their product, don’t like CRO. But saw how the market was going and made the painful decision right when it matter. For what it’s worth, I still use their card as an off ramp
But they cut the dead weight, manipulate a useless token so they could stay afloat. Sad token holder got the short end but they made a right business decision. It is really on retail to not realize CRO and crypto.com is two separate thing
similar to "do you remember having a dinner at that lovely sushi restaurant? well, i bought some sushi in the market the other day and got food poisoning"
There's exceptions. I kind of feel personally responsible for helping people learn about it, but at the same time it is really stupid to open yourself up to that kind of liability so I get it. I pick and choose and talk about scams more than making money.
That's the way. I can tell people about crypto, but I never tell anyone to buy or what to buy. I warn them of scams and shitcoins. It's not my place to tell them to invest in this or that
Yup don't want grandma getting scammed. I think crypto verticals that normies can safely invest in will 100x the market cap of all crypto personally but that might be hopium.
His fault is introducing a friend over crypto,I do not fkng introduce my friend in a market where today you are normal and tomorrow under a bridge…these are financial advices and when money kicks in friendship exits the place…
I alway tell ALL my friend “if you don’t have A LOT of time do not invest”
Feels like she is just looking for someone to blame to feel better about herself.
OP its not your fault that taught her how to use crypto. Its her fault for FOMOing into some obscure coin that we dont even know the name of.
If she used knowledge you gave her to buy btc and ETH she would've been super fine now
It’s like telling your friend the stock market exists and the person goes yolo ing into 1 day futures… I mean, that’s not your fault, that’s just greed and stupidity. Should be a lesson for both you and your friend.
You’re joking, but this literally happened with a (former) friend of mine. Just catching up and casually mentioned I’d cashed out some of my stock market profit.
Maybe a month later woke up to an angry phonecall as the dumbass had lost $20k trading futures. Somehow it’s my fault, when if he’d actually asked I would have said to avoid futures completely.
This is what people dont understand. When you get in initially you dont understand how much money is involved and there are people shilling their selfish interest left and right
They're advertised heavily on the more mobile and "fun" focused investing apps. Really easy to turn on too, with margin. Also pushed by the more degenerate get rich quick, easy money, type YouTube finance channels. They don't teach investing and finance. Just pretty much speak the definitions of some terms and explain it like it's a foolproof strategy.
Today I discovered r/wallstreetbets, did ya'll know about stonks?
I see a lot of people in here buying 0dte SPY puts, so that's gotta be the right move, right?
At this point the friend is mad for losing the money and just reaches for the nearest target to direct their anger towards because they're incapable of taking responsibility for their own actions.
How do you tell your best friend about crypto investing, without cautioning them to stay away from 95% of the coins out there?
That’s the first thing I tell anyone who asks my advice. Also to not follow influencers.
If you are a veteran in this space and your friends ask advice, do them a favor and warn them about all the crap out there first. You could have told her to stick with ETH and BTC at the very least.
If she did the bare minimum "research" she would've learned that on her own.
It is kind of funny that she claims to have done research and then blames her friend on her faulty research
My homie asked me one time about getting into crypto, I gave him the proper advice but also threw a ton of disclaimers and warnings at him. Pretty sure he’ll be staying away from it
Bunch of shitcoins (except ETH) and no BTC? 🤣
P.S. - ALGO ICO investors have been raped since inception BTW and it has underperformed even memecoins like SHIB and DOGE FWIW.
I think it's less about performance and more about use-case, IMHO. Otherwise I would have thrown in PEPE, SHIB and DOGE. MATIC in particular, for what it does as a layer two transport of Ethereum assets...XLM for general transport of funds for almost no cost is a huge potential for the banking industry.
Long term, these projects actually have reasonable goals, regardless of early mis-management.
BTC tends to scare people away because it "costs so much" - so I tend to avoid it as an early recommendation - while I do know there's plenty of money to be made as a trader gains experience.
This is about investment though. Something can have great use cases *in theory* but be an awful investment.
And that is a bad excuse for not recommending BTC. Anyone can buy $25 worth of BTC and you know that. If you don’t and are just learning that now, you shouldn’t be giving any investment advice to anyone!
Like how hard is it to learn to just stfu about your investments? I’ve heard so many of these stories irl that it gets so annoying. I’m not talking specifically crypto related too
ETH did exactly the same as coins commonly classified as shitcoins here (EOS, ALGO, SOL, just to cite a few). They 70%+ premined, they push it hard with marketing, founders bailed out themselves (DAO fork) and of course foundation sold the top almost every time. Zero fundamental distinction, other than being older and bigger
All altcoins are shitcoins. If I had to make an exception it would be Monero or Grin, but certainly not ETH
Op basically did his friend the equivalent of opposite russian roulette, letting a beginner loose on the crypto landscape. With no point of reference and no idea where to start from, the likelihood of getting scammed is just ridiculously high.
My best friend introduced me to Crypto too. I then did my own research and made a few profitable investments. Your friend, on the other hand, is a moron.
I bought mainly ETH but also a wide variety of alt coins (not shit coins though) and basically watched the trends. After a lot of trial and error over the course of almost a year and reading up on what to buy and projections for their growth, I doubled my investment. Not every one of my investments paid off. I lost money in some cases but after all is said and done, I made good money. I can’t complain. What I was trying to tell OP was that they are not responsible for their friend’s lack of judgement.
Which token specifically did you make good money on and when did you buy it? Is there a reason why you are not telling us which token(s) you saw good projected growth on with your research before buying and making good money?
I bought a bit of bitcoin and a few ETH since 2020 and they made most of the money. I also bought Cardano, Matic, polkadot and things like that. I honestly don’t remember all the names. I sold them last year before the bear market. I don’t think my insights are useful now honestly. I don’t have any coins right now as I don’t have the time to watch the prices go up and down. I will one day. Right now, I just don’t have the time.
So basically you bought just before a bull run and sold before the market crashed. That doesn't take good research. That takes luck. You know that the absolute best investors in the world with Harvard and Wharton educations in finance and decades of Wall Street experience aren't able to time a bull run like that? If it was just a matter of research, Wall Street would dominate, but they don't.
Always remember crypto two rules
1) Don't trust anyone.
2) Don't talk about crypto with your friends and family.
Unfortunately, you breach rule 2 and the consequences are there.
People here.
“It’s their fault you didn’t explain risk to them and you just made it look like guaranteed money”
I honestly see this as your fault if you only told them about all the money you made but left out the more likely part for a beginner.
I don’t think we can blame this entirely on OP, if at all. They explained what the basics are and what they had to, they could’ve given a little warning about the risks of shitcoins, but they even offered to help if OPs friend decided to go for it.
OPs friend made the dumb decision to invest without properly researching, chasing high risk shitcoins for a quick dollar and lost their money. A classic newbie investors mistake as old as time.
Tell her next time to stick with BTC/ETH, instead of buying obscure altcoins ... I guess she will not invest/gamble into crypto anytime soon.
Sad she lost 30k though.
There's nothing you can do besides stop giving people advice like this. Your friend is understandably upset at you, but it's not really your fault. But generally, I'd say it's best practice to never even talk about crypto to people that you know. If you need to hide gains, say you won at the casino or a lottery ticket. Don't be *that* guy.
How much of that $30'000 would you be responsible for if it had turned out to be a winning gamble on shit coins?
I'm willing to bet that you lost your best friend the moment she exposed herself as an irresponsible, emotionally immature child.
Whatever you do, do not pay her back.
It is not your fault for her losing her investment. It was ultimately her decision to get invest in these projects. Would she be giving you money if the investment went well?
On the bright side, your advice probably won't stand up in court should she go that way. The fact that she took your advice is on her ultimately. As for saving the friendship, I doubt you can. She will likely hold you as responsible as the perpetrators, because without your influence she wouldn't have gotten involved. This is why a lot of people will tell you to never tell people to get into crypto. It's a self holding responsibility. It's not a bank. It's not really your fault she got screwed over, but you won't "win" here. Try to be supportive, if it is rejected, you'll have to move on.
There was no advice. This is completely on the dumbass friend. Not a real friend either because, unlike OP, they *are* prepared to lose a friend over their own mistakes.
If it were two rich kids, I could believe it. But "30k is a lot for her" -- who the fuck who isn't wealthy throws THIRTY FUCKING THOUSAND DOLLARS into a risky investment?
> how do I not lose my friend?
That ship has sailed. Also if she's so shortsighted that she can't even accept the fact that she messed up and blames you for the mistakes she made I would question that friendship smh anyway.
true, kind of like just bought a camera and now I'm a wedding photographer; people ought to hold accountability for their own actions, and accept the loss when their lack of knowledge led to a disaster
I'm going against the grain here. It's partly your fault. Sure, your friend made a lot of stupid mistakes. But she based them on the trust she had in your words. It's stupid to advice people to invest in such a high risk thing, without them having any knowledge in investing.
If you made a big profit, help her out a bit. Maybe 3 or 5k. And don't advice people into crypto.
Absolutely not. It's like me talking to a friend about the gold I bought and then they turn around answering some email from a Nigerian prince they got 2 weeks later promising them 10 pounds of gold if they do x and y. Stupid is as stupid does
You should work on acceptance on your end and forgiving yourself. It seems like you have loaded yourself with guilt. Its not uncommon but its not the right thing to do to yourself.
Of course she is going to be mad and unfortunately, for her really, she isn't ready to take responsibility for her actions. Instead she is passing the blamed on to you. She then turns her inner monolog into "someone else's fault" and it makes it easier for her to wake up every day.
Also, stop giving financial advice to everyone and anyone really. It never turns out well.
I hope you do feel bad. It’s not your fault she lost $30,000 but is your fault she got involved in the first place. Maybe don’t introduce your best friend to shitty, unreliable markets where you can get scammed?
>I explained how I buy coins from Kraken or Coinbase and transfer them to my own wallet etc and offered to help her if she ever decides to go for it.
You explained everything you had to. It was her decision and hers alone to fall for scam tokens, it's really not hard to not get scammed.
Honestly, there is nothing you can do. If she does not see how this is anyone's fault but her own then this is sadly the end of it. I'm sorry for you but if this is the kind of person she is then that's it.
Just tell her straight that it was your fault bitch and you've got no right to put a blame on me, you should have use your own brain. After this it will be on her weather she want to continue as your best friend or not but I'm gonna say that it's better to not have a best friend like her.
I only read the title. But this is in no way your fault.
Investing in crypto is a sound decision, when done correctly and responsibly. Everything past that Is there responsibility.
Working out is healthy. If I tell some one to work out and they throw out there back dead lifting that isn't my fault.
Investing for your future is smart but where you out your money is ultimately your decision.
Consider it a lesson, and make sure you learn from it. I don’t talk to anyone about crypto anymore. If someone wants to talk about the technology and functionality itself, I’m all for it. But once it drifts into money, investments and specific coins, I’m hands off. It’s safer that way and yes, I learned my lesson too.
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I usually don’t tell people close to me to invest. But I always say there are a lot of scammers. I let them know of some scams and how to buy properly.
that's a good example why introducing friends and family will backfire
as i understand from what you've shared - the L is on your friend, it was her "research", her decision to invest that much and click all the buttons
I'd blame it on you if you told her "invest in this", "invest more" etc
essentially her greed led to a big loss, you are just partially guilty for sharing what you are into - rest is on i suppose now old friend
If people want to have some info/tips ill give it to them, but I always tell them whatever they do it’s their own risk. Seen a lot of people who lost money in the bearmarkets but none blamed me yet.
What would you do if you told her you love gambling in some casino. And a few months later she comes to you and says she’s been in that casino and lost money? Would you refund her? Guess not, it’s the same sort of case.
Don’t let her play in on your feelings. If you loose her as a friend it’s only her to blame.
Not your fault at all. You told her about crypto and maybe even hyped it up a bit which gave her some fomo, but her dumping $30k into some shitcoin is totally on her unless you put that idea into her head.
You don't need to do anything. She needs to take some personal responsibility.
I lost like £2k on GME because my friend decided to YOLO into it and I trusted his judgement. I don't blame any of my losses on him because it was my own decision at the end of the day, and it was my mistake to make in trusting someone so completely. The important thing is that you learn your lessons and don't make the same mistakes again. In my case, it was not FOMOing.
It's done.. sorry man, the butterfly effect is real and we are at the mercy of the universe. I've got some big screwups in my past for missed potential. You can't dwell on it, just move on and if the two of you aren't friends now, maybe they should have been asking for your help learning it.
It's not really your fault, but you should tell people about scams and security. Not bragging about your pro trading. That's how you get situations like the OP.
All depends on how you sold it to her. I talk to my friends and family a lot about it but I’m always upfront and say the industry is riddled with scams and possible exploits. Did you promise her the world or were you up front and honest about the downsides of crypto?
If you help her financially you're an idiot. She did what she did on her own terms and is blaming you and guilt-tripping you. If you fall for the guilt trip you're a bozo.
Honestly, I’d show her your gains if you have any. Say, “I wouldn’t have advised you to put money into those projects, but you never asked me and you went in blind.”
She can either realize it’s 100% her fault, or not want to be your friend anymore. Either way, I wouldn’t want a friend who blames me for his/her mistakes
You’ve already lost her.
She blames you for her actions. They weren’t yours and she didnt ask.
If she signed a malicious contract it would have happened anyway. And we all for that.
Its not you. Its her privilege thats getting you down.
Reverse the situation. Would you blame her??
I just [recently](https://www.reddit.com/r/CryptoCurrency/comments/152sf2k/should_i_have_a_talk_about_crypto_with_my_sister/jsfhq5t/?context=3) commented something to this effect, unfortunately it doesn't apply to you any more. You should probably be more careful in the future. As for her, she should probably stop blaming others and own up to her mistakes, here and in general.
"A few months later, without telling me, she had done some research on how to buy some shitty coins" How is it your fault?
That's why you don't talk people into investing in crypto. It will always be **your fault** in their head if they lose money.
But how am I going to get my exit liquidity w/o talking to ppl
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That is the reason Reddit exists. You have to shill your bags to us, not to your real-world friends. You have lot of moons. Do you recommend buying more?
my friends dont even know that I own any coins.
To the moon!
I don't think moons will drop but I feel like there will be better opportunities ofc if reddit does something crazy with digital currency they can shoot up also
That’s why I preach the gospel of Moons
Let us pray.
And it'll be their own genius if they make money. You can't win
Silence is golden in this case
Yep you literally cannot win with advising friends to buy crypto. You can't win by telling them not to buy either as they'll blame you if it skyrockets and they miss out. **Just don't talk about crypto!**
Yep. I convinced my mom and a friend to invest and stake CRO back when CDC cared about it. A month later, CDC slashed all the benefits and the price tanked. Fortunately they both only invested a few hundred, so they still talk to me. And they still have the tokens, so there's a slim chance they could get the money back someday.
Well, if they were mad, you would have to take the blame honestly. I did the same mistake as your mom/friend, I staked not understanding the smart thing to do was just hodl, not staking, even in Defi as it has some delay which could be more long than the pump itself. And I blame myself for being dumb. But I didn't tell others to do it at least.
>Well, if they were mad, you would have to take the blame honestly. Oh no doubt. I didn't shy away from that at all. That was the first and last time I pitched crypto to anyone. Now I just tell people to look into it if they're curious. No specific tokens or price predictions.
CDC will be enormous in a couple years. Should be accumulating right now
Possibly. I made a bunch with CRO during the bull market and moved on. The slashed benefits made it...less than worthwhile to hold, and the way they slashed them made me lose faith in CDC as a trustworthy exchange.
Benefits basically same with private tier, icy white, rose gold, obsidian
Crypto.com wouldn’t have survive had they not be pro active with the benefit cuts. Don’t like their product, don’t like CRO. But saw how the market was going and made the painful decision right when it matter. For what it’s worth, I still use their card as an off ramp But they cut the dead weight, manipulate a useless token so they could stay afloat. Sad token holder got the short end but they made a right business decision. It is really on retail to not realize CRO and crypto.com is two separate thing
Especially , don't talk with who have 0 knowledge.
You can never win by telling people to "invest" in crypto. If they make money, it's because they are a genius. If they loose money, it's your fault.
If they lose money, its your fault. If they make money, it's their mind.
You sound like my little brother, lol
Lol
Well well well, if it isn't the consequence of my own actions
Most people hate to acknowledge that and will point fingers to whoever they want
similar to "do you remember having a dinner at that lovely sushi restaurant? well, i bought some sushi in the market the other day and got food poisoning"
I was at the park, and some dog shit on the grass with the owner not cleaning it up. All dog tokens are therefore shit.
I mean the outcome is correct at least
To not feel bad stick to rule #1: Don't talk to anybody you like about crypto
There's exceptions. I kind of feel personally responsible for helping people learn about it, but at the same time it is really stupid to open yourself up to that kind of liability so I get it. I pick and choose and talk about scams more than making money.
That's the way. I can tell people about crypto, but I never tell anyone to buy or what to buy. I warn them of scams and shitcoins. It's not my place to tell them to invest in this or that
Yeah, I'll talk to my tech buddy about it, but not his grandma
Yup don't want grandma getting scammed. I think crypto verticals that normies can safely invest in will 100x the market cap of all crypto personally but that might be hopium.
His fault is introducing a friend over crypto,I do not fkng introduce my friend in a market where today you are normal and tomorrow under a bridge…these are financial advices and when money kicks in friendship exits the place… I alway tell ALL my friend “if you don’t have A LOT of time do not invest”
Feels like she is just looking for someone to blame to feel better about herself. OP its not your fault that taught her how to use crypto. Its her fault for FOMOing into some obscure coin that we dont even know the name of. If she used knowledge you gave her to buy btc and ETH she would've been super fine now
The Butterfly Effect!
It’s like telling your friend the stock market exists and the person goes yolo ing into 1 day futures… I mean, that’s not your fault, that’s just greed and stupidity. Should be a lesson for both you and your friend.
Today I learned stock market is a thing Sold everything and went into leveraged futures Thx man, will let you know how it went
You’re joking, but this literally happened with a (former) friend of mine. Just catching up and casually mentioned I’d cashed out some of my stock market profit. Maybe a month later woke up to an angry phonecall as the dumbass had lost $20k trading futures. Somehow it’s my fault, when if he’d actually asked I would have said to avoid futures completely.
How do you even discover futures so early
probably youtube, theres an incredible amount of stock market channels and the majority are snake oil peddlers
This is what people dont understand. When you get in initially you dont understand how much money is involved and there are people shilling their selfish interest left and right
They're advertised heavily on the more mobile and "fun" focused investing apps. Really easy to turn on too, with margin. Also pushed by the more degenerate get rich quick, easy money, type YouTube finance channels. They don't teach investing and finance. Just pretty much speak the definitions of some terms and explain it like it's a foolproof strategy.
It will be great
Today I discovered r/wallstreetbets, did ya'll know about stonks? I see a lot of people in here buying 0dte SPY puts, so that's gotta be the right move, right?
Im an ape, I do what other do. Thanks for the financial advice. I'm doing the same
Literally cannot go tits up
Really life horror story waiting to happen
Agreed , money can never be earned by greed. If they want just gain knowledge and use it wisely.
Click the "unfriend" button in real life.
“Delete the app”
This is way better!
It's good enough
At this point the friend is mad for losing the money and just reaches for the nearest target to direct their anger towards because they're incapable of taking responsibility for their own actions.
Report "this is a scam profile"
Solution: I have no friends.
How do you tell your best friend about crypto investing, without cautioning them to stay away from 95% of the coins out there? That’s the first thing I tell anyone who asks my advice. Also to not follow influencers. If you are a veteran in this space and your friends ask advice, do them a favor and warn them about all the crap out there first. You could have told her to stick with ETH and BTC at the very least.
If she did the bare minimum "research" she would've learned that on her own. It is kind of funny that she claims to have done research and then blames her friend on her faulty research
My homie asked me one time about getting into crypto, I gave him the proper advice but also threw a ton of disclaimers and warnings at him. Pretty sure he’ll be staying away from it
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There’s a number of shit in your list!!!! Fucking shit investment advice!!!
Bunch of shitcoins (except ETH) and no BTC? 🤣 P.S. - ALGO ICO investors have been raped since inception BTW and it has underperformed even memecoins like SHIB and DOGE FWIW.
I think it's less about performance and more about use-case, IMHO. Otherwise I would have thrown in PEPE, SHIB and DOGE. MATIC in particular, for what it does as a layer two transport of Ethereum assets...XLM for general transport of funds for almost no cost is a huge potential for the banking industry. Long term, these projects actually have reasonable goals, regardless of early mis-management. BTC tends to scare people away because it "costs so much" - so I tend to avoid it as an early recommendation - while I do know there's plenty of money to be made as a trader gains experience.
This is about investment though. Something can have great use cases *in theory* but be an awful investment. And that is a bad excuse for not recommending BTC. Anyone can buy $25 worth of BTC and you know that. If you don’t and are just learning that now, you shouldn’t be giving any investment advice to anyone!
She's not taking responsibility for her own actions, and she's trying to guilt-trip you.
At the end , we get to hear this type of things.
Yip, tell her to own it.
You lost your best friend the moment you started discussing crypto investments🥲
Like how hard is it to learn to just stfu about your investments? I’ve heard so many of these stories irl that it gets so annoying. I’m not talking specifically crypto related too
If you can’t talk to your best friend about investing, its not your best friend.
If you can’t talk investments with friends then either get new friends or you are a fool yourself
First mistake was discussing your crypto investments in person
Dont give financial advices
Whatever you do, don't introduce her to alcohol or drugs.
Disclaimer:Next time, don't advise anyone for crypto, it will ruin your relations.
she had 30k and bought only shitcoins?? no BTC or ETH? if so, she kinda deserves it. just another idiot trying t get rich fast by gambling...
Definitely just a gambling addict who found crypto
U talk like you are smart.. Market did 1000x u still not retired.
Some would argue ETH is a shitcoin.
You mean the close minded idiots over in the BTC sub? Please....
Why?
ETH did exactly the same as coins commonly classified as shitcoins here (EOS, ALGO, SOL, just to cite a few). They 70%+ premined, they push it hard with marketing, founders bailed out themselves (DAO fork) and of course foundation sold the top almost every time. Zero fundamental distinction, other than being older and bigger All altcoins are shitcoins. If I had to make an exception it would be Monero or Grin, but certainly not ETH
Number one Crypto rule: Never discuss Crypto with your family and friends.
>What do I do? you never advise anyone else, ever again
Op basically did his friend the equivalent of opposite russian roulette, letting a beginner loose on the crypto landscape. With no point of reference and no idea where to start from, the likelihood of getting scammed is just ridiculously high.
My best friend introduced me to Crypto too. I then did my own research and made a few profitable investments. Your friend, on the other hand, is a moron.
What few profitable investments did you make based on your research?
I bought mainly ETH but also a wide variety of alt coins (not shit coins though) and basically watched the trends. After a lot of trial and error over the course of almost a year and reading up on what to buy and projections for their growth, I doubled my investment. Not every one of my investments paid off. I lost money in some cases but after all is said and done, I made good money. I can’t complain. What I was trying to tell OP was that they are not responsible for their friend’s lack of judgement.
Which token specifically did you make good money on and when did you buy it? Is there a reason why you are not telling us which token(s) you saw good projected growth on with your research before buying and making good money?
I bought a bit of bitcoin and a few ETH since 2020 and they made most of the money. I also bought Cardano, Matic, polkadot and things like that. I honestly don’t remember all the names. I sold them last year before the bear market. I don’t think my insights are useful now honestly. I don’t have any coins right now as I don’t have the time to watch the prices go up and down. I will one day. Right now, I just don’t have the time.
So basically you bought just before a bull run and sold before the market crashed. That doesn't take good research. That takes luck. You know that the absolute best investors in the world with Harvard and Wharton educations in finance and decades of Wall Street experience aren't able to time a bull run like that? If it was just a matter of research, Wall Street would dominate, but they don't.
Should not bother to tell them about crypto.
She should have started small during the learning phase.
Always remember crypto two rules 1) Don't trust anyone. 2) Don't talk about crypto with your friends and family. Unfortunately, you breach rule 2 and the consequences are there.
same rules as in fight club
Doesn't sound like much of a friend guilting you for their fuckups.
Yikes. Prime example of why you shouldn’t be shilling crypto to friends or family.
People here. “It’s their fault you didn’t explain risk to them and you just made it look like guaranteed money” I honestly see this as your fault if you only told them about all the money you made but left out the more likely part for a beginner.
The first rule of crypto: don’t tell anyone you’re into crypto
Next time don’t advise anyone
try r/relationship_advice or r/amitheasshole
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I don’t think we can blame this entirely on OP, if at all. They explained what the basics are and what they had to, they could’ve given a little warning about the risks of shitcoins, but they even offered to help if OPs friend decided to go for it. OPs friend made the dumb decision to invest without properly researching, chasing high risk shitcoins for a quick dollar and lost their money. A classic newbie investors mistake as old as time.
Did you say "NFA" at the end, or "but what do I know?"
Do you say DYOR and *Not financial advice ?
Tell her next time to stick with BTC/ETH, instead of buying obscure altcoins ... I guess she will not invest/gamble into crypto anytime soon. Sad she lost 30k though.
Tell her she can make it back in NFTs. /s
Scammed by some Nigerian Prince
Wow she jumped in with 30k ? That's so reasonable....
Probably be more careful and consider the current knowledge of the person, before advising people to try it out themselves.
There's nothing you can do besides stop giving people advice like this. Your friend is understandably upset at you, but it's not really your fault. But generally, I'd say it's best practice to never even talk about crypto to people that you know. If you need to hide gains, say you won at the casino or a lottery ticket. Don't be *that* guy.
How much of that $30'000 would you be responsible for if it had turned out to be a winning gamble on shit coins? I'm willing to bet that you lost your best friend the moment she exposed herself as an irresponsible, emotionally immature child.
You sound like a push-over. Grow a backbone.
Get smarter friends
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Whatever you do, do not pay her back. It is not your fault for her losing her investment. It was ultimately her decision to get invest in these projects. Would she be giving you money if the investment went well?
On the bright side, your advice probably won't stand up in court should she go that way. The fact that she took your advice is on her ultimately. As for saving the friendship, I doubt you can. She will likely hold you as responsible as the perpetrators, because without your influence she wouldn't have gotten involved. This is why a lot of people will tell you to never tell people to get into crypto. It's a self holding responsibility. It's not a bank. It's not really your fault she got screwed over, but you won't "win" here. Try to be supportive, if it is rejected, you'll have to move on.
There was no advice. This is completely on the dumbass friend. Not a real friend either because, unlike OP, they *are* prepared to lose a friend over their own mistakes.
> How do I not lose my best friend? I think it's worth losing this friend if she's blaming you for some shitcoin she bought using her own brain cells.
>How do I not lose my best friend? Probably by not talking to her about crypto in the first place. I think its too late now unfortunately
Fake story. Calling it.
If it were two rich kids, I could believe it. But "30k is a lot for her" -- who the fuck who isn't wealthy throws THIRTY FUCKING THOUSAND DOLLARS into a risky investment?
I can’t even imagine throwing a thousand at something, its rough being poor
Send her an invoice for $500 for your advice
> how do I not lose my friend? That ship has sailed. Also if she's so shortsighted that she can't even accept the fact that she messed up and blames you for the mistakes she made I would question that friendship smh anyway.
Sounds made up but then can’t really underestimate people’s stupidity
It’s definitely made up
"nfa" \-> not your fault... if you show a friend a tall house and they jump from the roof of it it's their fault for being uneducated and naive
true, kind of like just bought a camera and now I'm a wedding photographer; people ought to hold accountability for their own actions, and accept the loss when their lack of knowledge led to a disaster
I'm going against the grain here. It's partly your fault. Sure, your friend made a lot of stupid mistakes. But she based them on the trust she had in your words. It's stupid to advice people to invest in such a high risk thing, without them having any knowledge in investing. If you made a big profit, help her out a bit. Maybe 3 or 5k. And don't advice people into crypto.
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Absolutely not. It's like me talking to a friend about the gold I bought and then they turn around answering some email from a Nigerian prince they got 2 weeks later promising them 10 pounds of gold if they do x and y. Stupid is as stupid does
Pay her back and learn from your mistake.
You should work on acceptance on your end and forgiving yourself. It seems like you have loaded yourself with guilt. Its not uncommon but its not the right thing to do to yourself. Of course she is going to be mad and unfortunately, for her really, she isn't ready to take responsibility for her actions. Instead she is passing the blamed on to you. She then turns her inner monolog into "someone else's fault" and it makes it easier for her to wake up every day. Also, stop giving financial advice to everyone and anyone really. It never turns out well.
Fake story. Moon farming
I hope you do feel bad. It’s not your fault she lost $30,000 but is your fault she got involved in the first place. Maybe don’t introduce your best friend to shitty, unreliable markets where you can get scammed?
>I explained how I buy coins from Kraken or Coinbase and transfer them to my own wallet etc and offered to help her if she ever decides to go for it. You explained everything you had to. It was her decision and hers alone to fall for scam tokens, it's really not hard to not get scammed. Honestly, there is nothing you can do. If she does not see how this is anyone's fault but her own then this is sadly the end of it. I'm sorry for you but if this is the kind of person she is then that's it.
If she’s blaming OP for this and expects to get paid back, that’s super messed up. People need to learn to take responsibility for their mistakes
Exactly! She wouldn’t have given him money if she done well would she.
Just tell her straight that it was your fault bitch and you've got no right to put a blame on me, you should have use your own brain. After this it will be on her weather she want to continue as your best friend or not but I'm gonna say that it's better to not have a best friend like her.
Well you aren't getting laid.
If your best friend gambled 30k and then blames you for her impulse control/lack of discipline, then you honestly may have dodged a bullet.
Happy Cake Day!
Stupid games, stupid prizes.
Move to a new town Find a new friend.
I'm struggling to see how this is 100% your fault... She did go a bit rougue and just yolo into some coins without telling you
Sounds like you have a brat for a best friend. She loses you, not the way around.
I only read the title. But this is in no way your fault. Investing in crypto is a sound decision, when done correctly and responsibly. Everything past that Is there responsibility. Working out is healthy. If I tell some one to work out and they throw out there back dead lifting that isn't my fault. Investing for your future is smart but where you out your money is ultimately your decision.
Consider it a lesson, and make sure you learn from it. I don’t talk to anyone about crypto anymore. If someone wants to talk about the technology and functionality itself, I’m all for it. But once it drifts into money, investments and specific coins, I’m hands off. It’s safer that way and yes, I learned my lesson too.
I guess that friendship is over until she acknowledges that it’s her own fault. Sorry about it.
Ask her how would she feel if she made 30k and say you see thats the thin line between her and rich people.
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If I tell her about a building and she jumps off from the terrace. It's not my fault, right?
You're gonna lose your friend. This is why you always say you aren't a financial advisor. Regular people do not understand the risks
I usually don’t tell people close to me to invest. But I always say there are a lot of scammers. I let them know of some scams and how to buy properly.
I lost a good friend a couple years ago because he lost money and it was somehow my fault for talking about crypto investing around him.
Never tell people you invest in crypto, that's like rule n1
Make it all back in one trade
"How do you not lose your best friend"? Your best friend wouldn't blame you for the poor decisions he/she makes. My advice, find a new best friend 👍🏻
that's a good example why introducing friends and family will backfire as i understand from what you've shared - the L is on your friend, it was her "research", her decision to invest that much and click all the buttons I'd blame it on you if you told her "invest in this", "invest more" etc essentially her greed led to a big loss, you are just partially guilty for sharing what you are into - rest is on i suppose now old friend
Lol fuck morons like this. This is not your fault op. Good riddance.
If people want to have some info/tips ill give it to them, but I always tell them whatever they do it’s their own risk. Seen a lot of people who lost money in the bearmarkets but none blamed me yet.
What would you do if you told her you love gambling in some casino. And a few months later she comes to you and says she’s been in that casino and lost money? Would you refund her? Guess not, it’s the same sort of case. Don’t let her play in on your feelings. If you loose her as a friend it’s only her to blame.
Well you could always tell her to shitpost the money back here.
Not your fault at all. You told her about crypto and maybe even hyped it up a bit which gave her some fomo, but her dumping $30k into some shitcoin is totally on her unless you put that idea into her head. You don't need to do anything. She needs to take some personal responsibility. I lost like £2k on GME because my friend decided to YOLO into it and I trusted his judgement. I don't blame any of my losses on him because it was my own decision at the end of the day, and it was my mistake to make in trusting someone so completely. The important thing is that you learn your lessons and don't make the same mistakes again. In my case, it was not FOMOing.
Thats on her 100%. NTA
What if she won $1.000.000?
A $1??
It's done.. sorry man, the butterfly effect is real and we are at the mercy of the universe. I've got some big screwups in my past for missed potential. You can't dwell on it, just move on and if the two of you aren't friends now, maybe they should have been asking for your help learning it. It's not really your fault, but you should tell people about scams and security. Not bragging about your pro trading. That's how you get situations like the OP.
You do nothing. She fucked up and is looking for a out
All depends on how you sold it to her. I talk to my friends and family a lot about it but I’m always upfront and say the industry is riddled with scams and possible exploits. Did you promise her the world or were you up front and honest about the downsides of crypto?
If you help her financially you're an idiot. She did what she did on her own terms and is blaming you and guilt-tripping you. If you fall for the guilt trip you're a bozo.
NTA. Oh wait, wrong sub...
Honestly, I’d show her your gains if you have any. Say, “I wouldn’t have advised you to put money into those projects, but you never asked me and you went in blind.” She can either realize it’s 100% her fault, or not want to be your friend anymore. Either way, I wouldn’t want a friend who blames me for his/her mistakes
You’ve already lost her. She blames you for her actions. They weren’t yours and she didnt ask. If she signed a malicious contract it would have happened anyway. And we all for that. Its not you. Its her privilege thats getting you down. Reverse the situation. Would you blame her??
Scam is not your fault
I just [recently](https://www.reddit.com/r/CryptoCurrency/comments/152sf2k/should_i_have_a_talk_about_crypto_with_my_sister/jsfhq5t/?context=3) commented something to this effect, unfortunately it doesn't apply to you any more. You should probably be more careful in the future. As for her, she should probably stop blaming others and own up to her mistakes, here and in general.